ShockWave Medical stock had its Relative Strength (RS) Rating upgraded from 86 to 93 Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the best stocks often have an RS Rating north of 80 at the beginning of a new run.
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Is ShockWave Medical Stock A Buy?
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to establish and enter a buying range in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth increased last quarter from 0% to 157%. But sales fell from 271% to 194%. Keep an eye out for the company's next round of numbers on or around Aug. 9.
ShockWave Medical stock holds the No. 2 rank among its peers in the Medical-Systems/Equipment industry group. Shockwave Medical is the No. 1-ranked stock within the group.
